Harboursandport.com: Lagos -- The Federal Government is targeting banks and insurance
companies to finance the national shipping carrier, following the withdrawal of
a Singaporean liner, Pacific International Lines (PIL), from the initiative.
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| Minister of Transportation, Rotimi Amaechi |
The Singaporean shipping
company, with over a hundred ships in its fleet world-wide, had said that it
would not be able to cope with the shipping policies in the country as
government was reluctant to amend the loopholes in the Maritime Act.
However, the Executive
Secretary of the Nigerian Shippers’ Council (NSC), Hassan Bello, said that new
options will be explored by government to involve the banks, insurance
companies, the flag administration and nautical colleges to establish a
befitting national fleet flying Nigerian flag.
Disclosing this in Abuja,
Bello said that the country will change from its current terms of trade, Free
on Board (FoB) to Cost, Insurance and Freight (CIF).
Bello stated: "We have
to involve the banks, insurance, the flag administration, nautical colleges,
policies as well as laws that can make the country change from Free on Board
(FoB) to Cost, Insurance and Freight (CIF) and others.”
Bello explained that
despite the withdrawal of PIL, there were still many options opened to bidders.
He noted that the ministerial fleet implementation committee constituted by the
Minister of Transportation, Mr. Rotimi Amaechi, will ensure the refloating of
the Nigerian National Shipping Line to meet its mandate.
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